Free Trade
A trade policy that does not restrict imports or exports
Real World Example
During the Growth of Western Democracies from 1815-1915, free trade was a policy that allowed countries to buy and sell goods without heavy taxes or restrictions, encouraging economic growth and international cooperation. This concept responded to problems like trade barriers that made goods expensive and difficult to access, hindering economic progress. Free trade was important because it helped nations develop stronger economies by trading resources and products more easily, leading to wealth and improved relations between countries. Today, free trade still matters because it allows people to access a wide variety of products at lower prices, benefiting both consumers and businesses. For example, when you buy a smartphone, parts may come from different countries, and free trade helps keep the cost down, making technology more affordable for everyone.
